Blogging Away Debt

Another Expense for September – Car Repair

September already wasn’t looking like a good month. It looks a little worse now after getting some repairs on our car. They are putting us behind about $300 so it looks like we will probably have to pull some money from our savings to pay for that. A bummer, but I really can’t complain about our car. The repair was one that was inevitable, and one may even consider it more maintenance since it’s a given that it will have to be done sooner or later. We always hope for the later, though LOL.

Sometimes I think to the future, and I think about how great it will be to have some savings set aside specifically for certain things. I can visualize an account that holds about $15,000 in it that can be used to purchase a car debt-free or used for car repairs. There is no relying on a bank or credit card to give you the funds. You call the shots, because you saved up the money.

*happy sigh*

That thought is almost as nice as my happy thought of relaxing in a hammock on a warm summer day with no bugs.

*another happy sigh*

I’m thinking that once our debt is paid off we’ll find ourselves going into extreme saving mode 🙂

Good Things Come to an End – Bye to Our 0% Interest Rate

by Tricia

This month marks the last month of the 0% interest rate on our credit card debt. We have enjoyed that special rate for a year, and we are very thankful for it. But good things do come to an end. Now what do we do?

First things first, we do have a collection of cards that we are not using but are still open. I checked out all of the available balance transfer offers on those cards and noted them. There are no 0% offers, but there are some offers between 5-8%. That is better than the 10.9% we are facing with our current card.

Next up, I did a little bit of shopping around for a 0% credit card. Quite a few bloggers have handy lists of 0% offers so that is where I go. I always review Jim’s list since he keeps it updated regularly (plus he’s a nice guy to boot). There are some very nice offers on there. But do we really want another card?

The last option is to just pay the darn credit card off as quickly as possible and pay the finance charges. This is definitely the less confusing option, but would likely cost more in the long run.

One thing I always try to do is look at the options and think about them for a little bit. I think about our situation and what is the best thing to do right now. Do we really need one more credit card to track? What about paying a little bit in finances charges for the last bit of credit card debt? How would getting a new card affect our credit rating? Could I swallow some pride and pay some finance charges for a while?

I am still undecided as to what route to take. I can’t help but be so thankful there are options. Way back when we started this journey, we didn’t have many at all. I’ll think about it for a few days and then make a decision.